Petrol prices in India on Thursday hit an all-time high, retailing at ₹84.20 a litre in the national capital. The retail price of petrol, which held steady for 29 days, was raised by 26 paise per litre on Wednesday and again by 23 paise a litre on Thursday. The previous all-time high price of petrol was ₹84 a litre on October 4, 2018.
The price of diesel was also raised on Thursday by 26 paise to retail at ₹74.38 per litre in Delhi. It had touched an all-time high of ₹81.94 a litre on July 30, 2020. Central and state taxes and the commission of dealers are added to the refinery gate price of auto fuel to arrive at the retail price.
High fuel prices have added pressure on the government to cut taxes on fuel, amid reports that the Centre is exploring an excise duty cut. The final call will be taken by the finance ministry. Mint earlier reported that the Centre’s receipts from excise duty stood at ₹1.6 lakh crore in the April-October period, up from ₹1.14 lakh crore in the year ago, data from Controller General of Accounts showed.
Source: Read Full Article